Debt-ridden China Evergrande arranges HK$13.6 billion funds to repay offshore bonds, said no further bonds due before next March
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Debt-ridden China Evergrande arranges HK$13.6 billion funds to repay offshore bonds, said no further bonds due before next March
STOCKS

Debt-ridden China Evergrande arranges HK$13.6 billion funds to repay offshore bonds, said no further bonds due before next March

 

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China Evergrande Group, the country's most indebted property developer, said on Thursday that it had arranged HK$13.6 billion of its own funds to repay principal and interest on a bond due on June 28.

The funds are to be remitted into the bond repayment account and the company has no further bonds due before next March, whether onshore or offshore, it said.

China Minsheng Banking Group, China Evergrande’s top bank creditor, said on Wednesday that it had reduced its exposure to the developer to assuage its own investors.

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